Final Rule Governing Filing Procedures and Delegations of
Authority, and Revised Related Policy Statements
(Part 303 of the FDIC's Rules and Regulations)
The FDIC Board of Directors has revised the agency's regulation and related policy statements that govern the filing and processing of applications submitted by insured depository institutions. The revised Part 303 of the FDIC's rules and regulations and revised policy statements, which are attached, will take effect October 1, 1998.
The revisions are designed to:
streamline processing for well-managed and well-capitalized institutions,
reduce regulatory burden,
remove inconsistencies and outmoded requirements, and
present the regulation in a
The most significant feature of the revised regulation is that expedited processing will be available for most filings submitted by well-managed and well-capitalized depository institutions. An estimated 90 percent of banks supervised by the FDIC will meet the definition of an "eligible depository institution."
In addition to revising Part 303, the FDIC
has adopted revised policy statements on "Applications for Deposit Insurance," "Bank Merger Transactions" and "Liability of Commonly Controlled Institutions." The FDIC has rescinded the policy statements on "Applications to Establish a Domestic Branch" and "Applications to Relocate Main Office or Branch."
For further information, please contact your regional office on the attached list.
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).
Regional Offices - FDIC Division of Supervision
1201 W. Peachtree
St., NE Atlanta, GA 30309
Georgia, North Carolina, South Carolina, Virginia, West Virginia
Hill Office Park Braintree, MA 02184
Maine, Massachusetts, New Hampshire, Rhode Island, Vermont
500 West Monroe
Street Suite 3600 Chicago, IL 60661
Michigan, Ohio, Wisconsin
1601 Bryan Street Suite 1900 Dallas, TX 75201
Mexico, Oklahoma, Texas
2345 Grand Avenue
Suite 1500 Kansas City, MO 64108
Minnesota, Missouri, Nebraska, North Dakota, South Dakota